The present invention relates to apparatus for automatically forming and cooking food articles such as commonly referred to as "circus waffles" and which are formed by dipping a heated metal mold into a fluid batter and then immersing the mold and coated layer of batter within a hot cooking oil for a predetermined time period. More specifically, the invention relates to improvements in the general form of apparatus disclosed in U.S. Pat. No. 2,614,485 which issued to J. C. Sinkwitz and applicant as coinventors. In such an apparatus, it has been found desirable for the apparatus or machine to have a high dependability of operation so that the operating and maintenance labor can be minimized and one operator can handle a plurality of machines. It has also been found desirable to minimize the floor space required for the apparatus and to provide the apparatus with components which can be quickly and conveniently disassembled and reassembled to facilitate cleaning. As another important feature, the machine should provide for precisely controlling the level of the batter with respect to the path of each mold when it is dipped or lowered into the batter and depending on the viscosity of the batter to assure that each mold is not submerged within the batter. In addition, it is desirable for the machine to provide for continuously aerating the batter so that it maintains a uniform consistency during the continuous operation of the machine.